Commodity Market Today 11 Nov: Gold, Silver, Crude Levels
On this page 6 sections
In short: NSE and BSE were shut on Tuesday for a market holiday, and MCX traded only its evening session. In that session, MCX gold fell 1.84% to ₹1,40,525, silver fell 2.43%, crude fell 1.62%, natural gas rose 2.76%. Overseas, international gold fell 2.05% to $4,030.2 an ounce and Brent crude fell 1.17% to $91.49 a barrel. The dollar was quoted at 93.92 rupees in international trading (Indian currency markets were also closed).
What happened yesterday (10 November: market holiday, MCX evening session only)
| Commodity (MCX) | Close | Change | Change (%) |
|---|---|---|---|
| Gold (Dec), ₹/10 g | 1,40,525 | −2,641 | −1.84% |
| Silver (Dec), ₹/kg | 1,82,576 | −4,551 | −2.43% |
| Crude oil (Nov), ₹/bbl | 8,096 | −133 | −1.62% |
| Natural gas (Nov), ₹/MMBtu | 308.8 | +8.3 | +2.76% |
| Copper (Nov), ₹/kg | 1,337.30 | −14.10 | −1.04% |
| International | Close | Change (%) |
|---|---|---|
| Gold (COMEX), $/oz | 4,030.2 | −2.05% |
| Crude oil WTI (NYMEX), $/bbl | 86.04 | −0.93% |
| Crude oil Brent (ICE), $/bbl | 91.49 | −1.17% |
| Natural gas (NYMEX), $/MMBtu | 3.296 | +2.42% |
| US dollar / rupee | 93.918 | −0.03% |
India (IBJA): 24-carat gold (999) ₹1,41,452 per 10 g (−1.86%) and silver (999) ₹1,82,868 per kg (−2.37%), closing rates of 6 November without GST.
Important news
- OMC stocks: Brent slips below $90 to hit over 2-month low amid Iran peace hopes; Will HPCL, BPCL and IOC benefit?: Oil marketing companies may draw investor attention as Brent crude falls to a three-month low amid hopes of easing Middle East tensions. HPCL, BPCL and IOC have gained 10%–13.5% so far in November. Lower crude prices can reduce costs, improve margins and cash…
- Oil Selloff To Nvidia Recovery: Five Reasons Wall Street Futures Are Mixed Amid AI Bubble Fears: Dow Jones Industrial Average futures rose 0.3% to 52,656, S&P futures advanced marginally to 7,576.25, while Nasdaq futures slipped 0.31% to 27,929.
- Brent slumps below $90 per barrel for the first time since August: Brent crude fell below $90 a barrel as traders bet on a Middle East resolution after Donald Trump stated additional strikes on Iran are not needed.
- Gold price hits $4,135, but silver steals the show as Diwali shuts markets: Both metals extended a rally from Monday
- Today’s Gold Rate in India November 10: Gold prices down in Delhi, Mumbai, Kolkata, Chennai, Bengaluru: 22, 24 carat Gold prices down across metro cities on November 10
- Global stocks build on tech-fuelled rally as oil retreats: Markets Wrap: Asian stocks were on course for their biggest two-day advance in more than three months as a resurgent tech rally and falling oil prices lifted sentiment.
Intraday levels for today (11 November)
The first level on each side is the one to watch at the open.
| Commodity (MCX) | Resistance | Support |
|---|---|---|
| Gold (₹/10 g) | 1,41,897, then 1,43,270 | 1,39,755, then 1,38,986 |
| Silver (₹/kg) | 1,85,180, then 1,87,785 | 1,81,115, then 1,79,655 |
| Crude oil (₹/bbl) | 8,213, then 8,330 | 7,920, then 7,744 |
| Natural gas (₹/MMBtu) | 313.1, then 317.5 | 302.5, then 296.3 |
| Copper (₹/kg) | 1,344.70, then 1,352.10 | 1,332.45, then 1,327.60 |
International levels (in $):
| Commodity | Resistance | Support |
|---|---|---|
| Gold ($/oz) | 4,117.3, then 4,204.5 | 3,981.9, then 3,933.7 |
| Crude oil WTI ($/bbl) | 87.35, then 88.67 | 84.30, then 82.57 |
| Crude oil Brent ($/bbl) | 93.16, then 94.82 | 89.49, then 87.48 |
| Natural gas ($/MMBtu) | 3.353, then 3.411 | 3.217, then 3.139 |
How to read them: Gold's pivot is about ₹1,41,128, and the last price is below it; ₹1,41,897 is the first hurdle and ₹1,39,755 the first support. Silver's pivot is about ₹1,83,720, and the last price is below it; ₹1,85,180 is the first hurdle and ₹1,81,115 the first support. Crude oil's pivot is about ₹8,037, and the last price is above it; ₹8,213 is the first hurdle and ₹7,920 the first support. A move beyond the second level on either side usually means a trending day.
Weekly and positional levels
| Commodity | Weekly resistance | Weekly support | Positional support |
|---|---|---|---|
| Gold (₹/10 g) | 1,46,486, then 1,50,421 | 1,38,240, then 1,33,929 | 1,33,923 |
| Silver (₹/kg) | 1,92,280, then 1,99,461 | 1,76,585, then 1,68,071 | 1,62,402 |
| Crude oil (₹/bbl) | 9,382, then 10,209 | 7,959, then 7,363 | 7,848 |
| Natural gas (₹/MMBtu) | 290.8, then 296.6 | 275.2, then 265.4 | 277.8 |
| Copper (₹/kg) | 1,379.40, then 1,419.45 | 1,313.35, then 1,287.35 | 1,334.77 |
Gold is below its weekly pivot of ₹1,42,175. Silver is below its weekly pivot of ₹1,83,766.
Events to watch today
- US crude inventories (EIA): around 9:00 pm IST; a bigger-than-expected draw usually supports crude.
- Rupee: a weaker rupee lifts MCX prices even when international prices are flat, and a stronger rupee does the opposite.
Pokharna Research view
Precious metals slipped in the last session. For today, gold ₹1,41,128 is the pivot to watch: holding above it keeps the tone firm, while a slip below ₹1,39,755 opens ₹1,38,986. Crude's range is ₹7,920–₹8,213, with Brent at $91.49; supply headlines can push it outside quickly.
This report is educational and informational. It is not investment advice, and nothing here is a call to trade any commodity. Commodity futures are leveraged and carry high risk. Pokharna Research does not claim SEBI registration.